At not-quite-5PM yesterday, a judge rejected the Department of Justice’s bid to prevent AT&T and Time Warner from merging, in effect giving the final stamp of approval to a deal that will see AT&T gain an enormous and valuable content library. Comcast was widely expected to make a bid on 21st Century Fox if the deal was approved, and this afternoon, it did.

The deal offers $35 per share for 21st Century Fox in cash, a bid that the company says is a “19 percent” premium over a bid that Disney has already made for a slice of Rupert Murdoch’s empire.